Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets (Unaudited)

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Condensed Balance Sheets (Unaudited) (USD $)
Sep. 30, 2013
Dec. 31, 2012
CURRENT ASSETS:    
Cash and cash equivalents $ 19,584,000 $ 21,983,000
Marketable securities 532,000 547,000
Royalty receivables 1,127,000 775,000
Other current assets 198,000 222,000
Total Current Assets 21,441,000 23,527,000
OTHER ASSETS:    
Deferred tax asset 6,002,000 6,194,000
Patent, net of accumulated amortization 5,355,000 65,000
Other Investments 196,000   
Security deposits 19,000 19,000
Total Other Assets 11,572,000 6,278,000
TOTAL ASSETS 33,013,000 29,805,000
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable 107,000 232,000
Accrued expenses 460,000 593,000
TOTAL LIABILITIES 567,000 825,000
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' EQUITY    
Common stock - $0.01 par value; authorized 50,000,000 shares; 26,089,483 and 25,392,269 shares issued and outstanding at September 30,2013 and December 31,2012, respectively 261,000 254,000
Additional paid-in capital 61,046,000 58,046,000
Accumulated deficit (28,832,000) (29,306,000)
Other comprehensive income (loss) (29,000) (14,000)
TOTAL STOCKHOLDERS' EQUITY 32,446,000 28,980,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 33,013,000 $ 29,805,000